With over seven million listings in 100,000 cities across 220 countries, San Francisco-based Airbnb has lofty goals: one billion guests annually by 2028. Loved for its diverse holiday rentals, from single rooms to entire properties, Airbnb undoubtedly offers a unique experience distinct from traditional hotels. The company became a phenomenon in the short-term rental market, but it's also under fire for its potential role in the global housing crisis. The so-called 'Airbnb effect' is becoming a major worry, as it impacts housing stock, prices, and communities. Despite the company's denials, cities around the world are scrambling to curtail the impact of short-term rentals; Barcelona and New York are already clamping down on vacation rental giants such as Airbnb to protect their housing markets.
But even if Airbnb is harming local housing markets and communities, can anyone really stop this massively popular, multi-billion-dollar powerhouse? Click through to find out.